Iran Threatens Less Oil If More Sanctions Imposed

Iranian officials say more sanctions will result in less oil, even as Western leaders consider tougher sanctions against the country.

Despite the Nov. 8 International Atomic Energy Agency report affirming Iran's pursuit of nuclear weapons, Iranian leaders claim their nuclear ambitions are strictly peaceful.

Vice President Mohammad Reza Rahimi said Tuesday Iran will shut down the Strait of Hormuz if the West imposes more sanctions on its oil exports.

"If they [the West] impose sanctions on Iran's oil exports, then even one drop of oil cannot flow from the Strait of Hormuz," Rahimi said, according to the state-sponsored IRNA news agency.

About 40 percent of the world's oil supply passes through the strait.

State Department spokesman Mark Toner called the threat "another attempt to distract attention away from the real issue?continued non-compliance with their international nuclear obligations."

Meanwhile, the Iranian navy began a 10-day training exercise Saturday in what some experts believe is intended to show its military prowess.

Source: http://www.cbn.com/cbnnews/world/2011/December/Iran-Threatens-Less-Oil-If-More-Sanctions-Imposed/

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